Samuel Bodman
Samuel Bodman
Samuel Wright Bodman IIIis the former 11th United States Secretary of Energy. He was previously the Deputy Secretary of the Treasury and the Deputy Secretary of Commerce...
ProfessionPolitician
Date of Birth26 November 1938
available committed consumers continue determine diesel disposal ensures facilities flowing fuel gasoline gulf help markets monitor move nation needs next oil overall petroleum production regain region sale states supply tools united using
The United States is committed to using all of the tools at our disposal to help keep our oil and gasoline markets well supplied, ... This sale ensures that refineries have the petroleum they need to keep gasoline and diesel fuel flowing to American consumers while production facilities in the gulf region regain their capacity. As we move forward, we will continue to monitor the overall supply of petroleum available and the needs of the nation as we determine next steps.
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It's important for our people to know that we understand the situation and we're willing to use the Strategic Petroleum Reserve to mitigate any shortfall in crude oil that could affect our consumers,
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The administration has been clear that the Strategic Petroleum Reserve is a national security asset that can be used to protect American consumers and our economy in the event of a major supply disruption, including natural disasters,
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Beginning last week, we have been in close contact with our federal partners, site managers at various locations of the Strategic Petroleum Reserve, and companies that operate oil refineries to prepare for any disruption in oil production.
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By utilizing the resources from the Strategic Petroleum Reserve, we will help minimize any potential supply disruptions as a result of the hurricane.
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The situation we are facing is a very different one than we faced in the past ... in the Carter administration, ... This is in response to significant damage that has been done to the country's energy infrastructure.
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Look, the Bush administration is not going to come up with a number. I can tell you what my view is, and I'd like to have another 10 percent of capacity today, ... But that could come either abroad or could come here, but I would like to have something that, in a better world, would relieve some of the pressure on these facilities.
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Technically it's called an exchange of oil that we deliver today and that we will get oil back plus some interest, if you will, in the future. We will be tapping that today.
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In a word. It is going to be done, ... Last evening it was approved and I think you'll be seeing an announcement about it later in the day. So we are doing everything we can to be responsive.
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This historic response is a remarkable signal of international solidarity in the face of the largest national disaster in America's history.
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It is very hard at this point in time to forecast either length of time where there may be disruptions or where they will occur, ... But I think it likely to be that there will be some disruption in terms of supply of motor fuels.
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It's an historic decision, ... Depending on what the market conditions are, I can imagine doing more but I would hope that we would not have to.
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do everything we can do to get fuel available to the rest of the country.
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Individual action from every American can add up to a tremendous collective effort and can produce significant results.